Fuel tax could rise as Kenya soaks IMF pressure

fuel prices, fuel subsidy, petroleum development levy
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Kenyan Wall Street | by Jackson Okoth


Fuel prices look set for a hike if an advisory from the International Monetary Fund(IMF) for the country to hike Value Added Tax(VAT) on fuel from the current 8% to the standard rate of 16%, is brought to bear.

“This would be a positive shock for Kenya, easing potential external balance pressures from other sources. If needed to meet fiscal objectives, Kenya can capitalize on lower super, kerosene and diesel prices by aligning fuel VAT to the standard rate,” said the IMF advisory…

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fuel prices, fuel subsidy, petroleum development levy


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